This might be a workable scenario for me.Lack of experience would not kill this deal for us but it would depend on a few things.Usually the biggest challenge for newer investors is in the amount of equity you have available to infuse into the project.You need to have a cash down payment to secure financing.With 25% Down you would be in a multiple financing offer situation where we're just fighting to get best deal possible and batting off Wholesale Account Execs left and right.

@Mark WalkerIt truly depends upon the market.

Depending on the state of those facilities it could make sense to secure a renter before renovating so that you build the area out for the long term renter. 

My property taxes are high - around 9k a year.I’ve been out of touch with the market this year dealing with an illness and I’m trying to make the best decision cause this is my lifetime investment and extra income.

like liens judgements taxes owed etc.

Wanna buy a tax lien but which auction website is the real one?

Of course, it ultimately depends on your available funds, short/long-term goals, etc. 

My tax returns (new llc) doesn’t “show” a lot of profit- a lot of losses on paper. 

But at least you can check under "Price/Tax History" and sometimes see previous rent listings.  

If you fail to close you owe all the taxes.